Mahindra & Mahindra (M&M) today said it expected to gain full management control of Korea’s SsangYong Motor Company (SMC) by March and would launch two sport utility vehicles (SUVs) from the SMC portfolio in India by the end of this year.
Pawan Goenka, president (auto and farm sectors), M&M, said, “Next Monday (February 7), we will be completing payment of the remaining 90 per cent amount for the acquisition, after which fresh shares will be issued to us and we will have 70 per cent stake in SMC.”